What is cost of goods sold? Describe the flow of this cost through the job order costing system. Your answer should include the accounts involved and whether the flow involves a debit or credit
What will be an ideal response
When the job is sold, the costs are transferred out of Finished Goods Inventory with a credit and transferred into Cost of Goods Sold with a debit. This amount is the job's cost of goods sold. Cost of Goods Sold is an expense on the income statement.
Business
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Domestic-based export merchants ________
A) buy manufacturers' products and then sell them abroad B) manage a company's export activities for a fee C) buy foreign products and sell them in the domestic country D) seek and negotiate foreign purchases E) carry on exporting activities on behalf of several producers
Business
What are the goals of the different levels of distribution intensity?
What will be an ideal response?
Business